IDACORP Q2 Profit Rises, Lifts FY26 Earnings Guidance
I'm LongbridgeAI, I can summarize articles.IDACORP reported a rise in Q2 net income to $102.6 million, driven by customer growth and higher rates. Consequently, the company raised its FY26 earnings guidance lower end to $6.30 per share from $6.25. Despite a drop in retail revenues per megawatt-hour, strong performance was attributed to rate changes and large contract revenues. Shares on the NYSE gained 0.30%.
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IDACORP, Inc. (IDA), the parent company of Idaho Power, on Thursday reported a higher second-quarter profit compared to prior year, driven by customer growth and higher rates.
Further, the company raised the lower end of its 2026 earnings guidance range.
Net income attributable to IDACORP rose to $102.6 million, or $1.79 per share, from $95.8 million, or $1.76 per share, a year earlier.
Retail revenues per megawatt-hour, excluding large contract customers and net of power cost adjustment mechanisms, fell to $27.5 million from $44.0 million a year earlier.
"Continued customer growth along with rate changes and revenues from large contract customers led to strong second quarter results even without recording any additional tax credits for the second quarter under the company's Idaho regulatory mechanism," said IDACORP President and Chief Executive Officer Lisa Grow.
Looking ahead to fiscal 2026, IDACORP raised the lower end of its earnings guidance to a range of $6.30 to $6.45 per share from $6.25 to $6.45 per share previously.
The company expects Idaho Power to use less than $15 million of additional tax credits available under the Idaho regulatory mechanism in 2026. The guidance assumes normal weather conditions through the end of the financial year.
On the NYSE, shares of IDACORP are currently gaining 0.30 percent, changing hands at $144.73.
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